PLANS™ - enhancing precision in project time and cost estimation
In today’s low-cost, low-carbon drilling landscape, accurate well time and cost estimates are key to success. Traditional methods fall short—prone to errors, inefficiencies, and overlook risks.
iQx™ PLANS™ uses probabilistic modelling to convert historical well and user-specific well data into a range of time, cost, and risk outcomes. By simulating scenarios 10,000 times, PLANS™ equips decision-makers with deeper insights, boosting well planning productivity, budget accuracy, and minimising scheduling uncertainty.
Why probabilistic beats deterministic in modern well planning?
Deterministic planning provides only one estimate, often missing critical uncertainties that impact the outcome of the project. In contrast, probabilistic planning, powered by the Monte Carlo stochastic modelling approach, delivers a range of outcomes.
Probabilistic planning allows drilling & wells teams to explore multiple what-if scenarios, helping them understand the range of possible outcomes and make informed, risk-aware decisions.
Probabilistic planning embraces uncertainty to help drilling teams spot risks early, explore smarter well construction strategies, and forecast time and cost with confidence.
Key PLANS™ features
- Driving cost efficiency with rig campaign time and cost modelling
- Auto-distributions powered by historic reference data
- User specific tagging for comparisons, evaluation and tracking time and cost drivers
- Templates building standardisation in well construction process
- High-impact visuals of time, cost and depth charts
- Predefined variables for smarter planning, risk reduction, and confident decision-making
- Comparison of alternatives
- Collaborative workspaces to streamline team efforts
Why choose PLANS™ for drilling time and cost planning?
- Developed in close collaboration with our users & partners
- Data-driven well planning
- Smarter decisions with risk-driven uncertainty scheduling
- Modern architecture with advanced security and SSO
- Seamless end-to-end data flow
The cornerstone of modern drilling engineering software architecture
PLANS™ application builds on the global success of iQx™ field-proven and industry-leading P1™ time and cost modelling software. PLANS™ combines highly renown simulation techniques with next-generation technology and new features.
PLANS™ seamlessly connects with industry-standard tools like WellView, WellPlan, and DELFI, as well as internal IT infrastructures via open APIs. This interoperability ensures a cohesive workflow, enhancing collaboration across departments and stakeholders.
With features like company-specific tagging, templates, and auto-distribution from historical data, PLANS™ promotes standardization and efficiency in well construction processes. Its cloud-native architecture, coupled with options for local deployment, ensures scalability and adaptability to various operational needs.
For more information, please download our product sheet here.
Read the success stories of our users.